$WMLP Westmoreland Resource -48% on going conce
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Posted On: 08/06/2018 9:49:59 AM
$WMLP
Westmoreland Resource -48% on going concern warning
Westmoreland Resource Partners (NYSE:WMLP) -48.6% premarket after its Form 10-Q says it does not have liquidity or access to additional capital sufficient to pay off a $316M term loan maturing at the end of this year.
WMLP says it is evaluating options including seeking an amendment, restructuring existing debt or sales of underlying assets; if unsuccessful, the partnership may be forced to seek a private restructuring or file for Chapter 11 bankruptcy protection.
In the 10-Q, WMLP reports Q2 sales of ~$64M, 21% lower than in the year-ago quarter.
Westmoreland Resource -48% on going concern warning
Westmoreland Resource Partners (NYSE:WMLP) -48.6% premarket after its Form 10-Q says it does not have liquidity or access to additional capital sufficient to pay off a $316M term loan maturing at the end of this year.
WMLP says it is evaluating options including seeking an amendment, restructuring existing debt or sales of underlying assets; if unsuccessful, the partnership may be forced to seek a private restructuring or file for Chapter 11 bankruptcy protection.
In the 10-Q, WMLP reports Q2 sales of ~$64M, 21% lower than in the year-ago quarter.
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